As a seasoned crypto investor with a decade of experience under my belt, I find myself awestruck by the audacity and foresight of Michael Saylor. On the 16th anniversary of Bitcoin’s birth, he pays homage to Satoshi Nakamoto in a way that only a true believer could comprehend – by raising $21 billion, mirroring the total supply of Bitcoin.
Today marks the 16th anniversary since the publication of the Bitcoin Whitepaper by the enigmatic figure known as Satoshi Nakamoto. In recognition of this momentous occasion, Michael Saylor, CEO of MicroStrategy and a strong supporter of Bitcoin, posted a heartfelt “Thank you, Satoshi” message on his social media platform.
The tale doesn’t conclude here, for his goodbye message was paired with an image of MicroStrategy’s stock prospectus supplement. This document suggests that they aim to raise approximately $21 billion by selling Class A common stock, hinting at further developments in the narrative.
Yesterday, it was announced that the software manufacturer aims to gather a total of $42 billion within the next three years, as this information emerged amidst MicroStrategy’s financial reports.
Thank You, Satoshi.
— Michael Saylor⚡️ (@saylor) October 31, 2024
Approximately half, or $21 billion, of funds will come from selling MicroStrategy stock. This figure appears to hold symbolic significance, as it mirrors the total number (21 million) of the primary cryptocurrency, Bitcoin, which was created by Satoshi Nakamoto. Jack Dorsey’s recent message to Satoshi also seems to allude to this connection.
The company plans to use the funds raised by this offering to buy more Bitcoin.
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It’s worth noting that if Bitcoin prices change in the future, it might be necessary for the company to exchange the Bitcoins they bought with the raised funds for cash. This conversion could occur at a value less than what was initially received from the offer.
MicroStrategy has committed approximately $10 billion towards purchasing 252,200 Bitcoins so far. If their latest offer goes through, this investment would nearly double, reaching a total of around $30 billion in Bitcoin holdings when the transaction is finalized.
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2024-10-31 17:11